Management Forum Created

Our management forum is going to be used to expand on information in press releases as well as keep you up to date on other important information. Please bookmark the page so you can continue to check for information that is relevant to all of DKGR’s shareholders. Important changes on the horizon include ongoing management changes and revisions to our list of projects that include expansions as well as additional properties.

Now that Drake Gold Resources has fully identified and cancelled a total of 60 million shares there can be a fair and equitable distribution to those who are entitled. “The introduction of Drake Oil and Gas was a natural outgrowth of opportunities that, while lucrative, were not part of the company’s mining focused business plan,” according to company President John Marconette. He continues, “we had value that needed to be conferred to shareholders without causing the company itself to lose focus.”

With the record date not yet chosen, there are a number of aspects of the issuance that can be revealed. With an issue of approximately 30 million shares for the Drake Oil and Gas entity, there will be an equal distribution of these shares to all of DKGR’s shareholders. A good, albeit hypothetical, example of this would be a DKGR shareholder who holds 1 million shares would receive 35,000 shares (estimated) of the energy spin-off. DKGR will retain a majority interest in the company after its IPO. The public offering price is being considered and will be disclosed as we draw nearer to the as yet undetermined record date.

Please be aware that this should be considered merely a reference point, actual details of the IPO will be released prior to the offering and are dependent on market valuation.